£20bn Sizewell C gets planning go-ahead

The twin reactor plant is set to become one of the UK’s biggest net zero infrastructure projects, supplying reliable low carbon electricity to around six million homes.

By displacing fossil fuel electricity, it will avoid around 9 million tonnes of CO2 emissions a year.

Hinkley C supply chain looks set to get follow on project promising big construction savings

Negotiations with the Government on raising funds for the project are continuing and a Financial Investment Decision is expected in 2023.

Other approvals required before the project can begin construction include a Nuclear Site Licence from the Office for Nuclear Regulation and permits from the Environment Agency.

Christophe Junillon, Head of Power New Build at Atkins, said: “Sizewell C is well positioned to play a major part in decarbonising the UK and today’s Development Consent Order decision reaffirms its potential.

“We know that a fleet approach to building new nuclear plants is the best way to reduce costs and maximise efficiencies.

“This decision will help to ensure that the learnings and supply chains established at Hinkley Point C can transfer seamlessly to Sizewell C.

Last month, the Government announced that Sizewell C could be eligible for funding using the so-called Regulated Asset Base (RAB) scheme which will drive down the cost of the project to consumers.

The government plans to take a 20% stake in Sizewell C and the French power giant EDF would also take a 20% share in the £20bn project.

Julia Pyke, Sizewell C’s Financing Director, said: “Energy costs will be lower with nuclear in the mix, so today’s decision is good news for bill-payers.

“The tried and tested funding arrangement we are proposing means that, by paying a small amount during construction, consumers will benefit in the long-term.

“Sizewell C will give a big boost to jobs and skills in nuclear supply chain companies across the country. It will strengthen the UK’s energy security and play a key role in our fight against climate change.

“Planning approval brings us closer to delivering the huge benefits of this project to Suffolk and to the UK.”

 

 

Leave a comment